weekend ed

The 162-Handle Trade I Was Glad I Missed Friday

by Tony Rago

Hey trader,

Friday morning I had my finger on a 77 short. VWAP was lined up, price was stretched, and it looked gorgeous.

It ran 162 handles in my direction after I let it go.

I was glad I passed on it.

That sounds insane until you saw the tape we were dealing with. The NQ opened with a 130-handle bar. The ES smacked down 20 handles off the bell.

The ATR was frothy. The spread on the dome was downright silly.

So I leaned back from the desk and told the room the truth.

"Sidelines are nice, man. The coffee's good over here."

That was the most profitable decision I made all morning.

I Trade All Seven of the Magnificent 7 Through One Symbol

I trade the entire Magnificent 7 through a single symbol, the NQ futures. That gives me their movement without carrying the single-stock risk.

My Golden Setup has historically produced $620 per completed setup. Over 20 months of trading every one of them, that added up to $550,360.

I run the whole thing on bracket orders that automate my entry, my targets, and my risk. The system also holds up under strict prop firm evaluation rules. TheoTRADE pays you $500 when you get funded using it.